Excited after continuously seeing Forex success stories on YouTube?
Is it a legit income source, or is it one of those scams that intellectual Youtubers always tend to expose?
Tonnes of questions arise when you start asking why everyone should trade or not trade Forex and consider the possibility of investing in it. Before you make any serious decision, we’d like you to go through our instructional research on the reality of Forex trading for beginners. Let’s see if it’ll work out for you or not.
How Does Forex Trading Work?
We don’t want to go into excessive details here, which will make Forex sound like rocket science. So, in simpler words, Forex trading refers to the transaction process that occurs when you convert one currency into another. But how does it work as a business model?
When an individual buys a particular foreign currency, it becomes a stocklike investment for him. If the price of the currency that you’ve previously bought goes up, you can sell it to make a profit.
Imagine you’re in Canada and have purchased 100 USD with 136 Canadian dollars. After a week, you notice that the price of the US Dollar has risen against the Canadian dollar, and you immediately sell the US Dollar for 160 Canadian dollars.
So within the one week, you’ve made 24 Dollars profit with only smart investing techniques.
This sounds too simple and looks like an appealing investment opportunity. But we haven’t reached the answer to our question ’why should everyone trade or not trade Forex’. More to follow, in the sections ahead.
Who are the Signal Sellers?
Signal sellers play one of the most essential roles in Forex trading. Signal sellers are the operators that give you or profess to provide you with logical insight on what’s going and what may happen next for a weekly or monthly charge.
These signal sellers may rely on unique sorts of outputs, whether the breaking news, technical analysis, or a combined understanding of both. But their main goal is to provide you with profitable business opportunities.
Although the signal sellers claim to possess accurate information regarding future ups and downs in the market, it opens up a new gateway for potential scams. At a time when the online income industry is filled with traps and scams. The signal sellers are far away from being considered a valid figure that you can trust.
The number of people that transformed their lives doing Forex trading sa is huge. And plenty of examples are there who made a fortune using it.
People like George Soros, Andrew Kreiger, made billions through Forex trading. With average daily trading of $5 trillion and more income opportunities with little time to waste builds it a highly sought after income opportunity for many.
Is it That Simple?
You may have seen YouTube thumbnails like saying ‘Make $100 a day with Forex trading’ and got your hopes up. But it may not be that simple either. Statistics say that only 5-10% of people become successful traders in Forex.
Although you’d find many success stories, we have mentioned one or two as well, but the fact is that the risk factor here is just too high. Plus, you’d also need to learn the complex mechanism before you even begin.
We just want you to remember one thing: 90% of the people have failed to become successful Forex traders. And business or a job with a 10% success rate would hardly be endorsed by any business expert.
Why should everyone trade or not trade Forex
We have explained the various aspects of Forex and how it works. The idea is simple, and if you can pull it off, the outcome is good. But only the success stories are shared and listened to including Top 8 forex brokers in South Africa as well.
The ones who could not make it, never felt the fun or energy to share his failure. That is why you’d hardly find anybody making a vlog on how he failed. If you ask me whether or not you should invest in Forex trading, I’d always reply in the negative, considering all the aspects and the actual reality of it.
And to sum up, plenty of better alternatives are there if you’re thinking about passive income. Learning a skill, opening up a small business where you have control over the whole process, designing and selling items online, and many more. We’ve given our opinion justified by facts and figures. The rest is up to you now. But make sure you consult experienced individuals before you make any serious decisions regarding investments.